Like the majority of people who move to Dubai, Tom Sowler and Rebecca Forbes intend to save money during their income tax-free couple of years in the emirate. But two and a half years after arriving from the UK their goal is being severely hampered by the significant outflow of money spent on rent.
The couple, recently married, are not being particularly lavish by renting a AED 95,000 two-bedroom villa in The Springs, but the annual rent is making a large dent in their ability to set themselves up financially. This is a typical story of people in Dubai.
It has never been this good for property investors, however Dubai is exceptional, with the 2020 world trade expo in view, the increase in property in Dubai has quadrupled.
- Dubai is rapidly growing in popularity with British second home purchasers attracted by its lifestyle, cosmopolitan atmosphere and sub-tropical climate.
- In recent years, prices have increased by as much as 25 per cent per annum, while remaining low by UK standards, and Dubai City has become an international property hotspot. The consequent surge in new residential developments has fuelled fears of a property bubble, but demand is still exceeding supply and is not expected to slow in the short term
- For residential, serviced hotel apartments, villas and townhouses
The Dubai Economic Outlook, Quarter 2 report for 2013.
- Indians captured the largest purchase deals (27 per cent),
- followed by British (17 per cent) and
- Pakistani (15 per cent).
Five million tourists in Dubai during first half of 2013
Dubai Continues to show strong growth and with Spread payment opportunities. Things have never been this great to INVEST!.